Heiting, Kenneth v. United States

IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF WISCONSIN KENNETH HEITING and ARDYCE HEITING, Plaintiffs, OPINION and ORDER v. 19-cv-224-jdp UNITED STATES OF AMERICA, Defendant. Plaintiffs Kenneth and Ardyce Heiting paid income tax on gains from the sale of stock held in their revocable trust. But when the trustee discovered that the stock sale was prohibited by the trust agreement, the trustee repurchased the stock using trust assets. So, in the following year, the Heitings claimed a credit in the amount of the tax they had paid on the unauthorized stock sale under the claim…